Barney Frank: “Yes, in fact, it is our hope to get more people into the FHA program as an alternative to subprime. One of the things…”

“Yes, in fact, it is our hope to get more people into the FHA program as an alternative to subprime. One of the things we've done, and the Senate is now doing it, is to extend the FHA's reach to people with subprime; although I do want to remind my friends in the Senate, I feel very strongly that when we do that, it would be terrible social policy to make people with weaker credit who are faithfully making their payments pay more than other people, and we will deal with that as we work out the two bills. But for purposes of this bill, the gentlewoman is absolutely correct. So I intend to support her amendment.”